Earlier this week, Standard Chartered Bank announced a forecast that the price of bitcoin will exceed $200,000 by the end of 2025 amid the expected approval of applications for a bitcoin spot ETF. This was reported by the cryptotimes, according to UNN.
If the ETF-related proceeds materialize as we expect, we believe a level closer to USD 200,000 is possible at the end of 2025.
Details
Kendrick also noted that the bank sees the spot approvals of bitcoin ETFs as a "tipping point" for the normalization of bitcoin participation
This forecast is based on the expectation that by the end of 2024, spot bitcoin ETFs in the United States will be able to hold between 437,000 and 1.32 million bitcoins, which means an inflow of $50 to $100 billion into the market .
Standard Chartered executives believe that bitcoin will need to rise to $200,000, which is 4.3 times its current value of $47,000.
On the other hand, according to the bank, the value of gold exchange-traded products has already reached a level that is 4.3 times their initial value about seven to eight years after their introduction in November 2004.
The bank's executives also noted that their latest bitcoin price forecast came true. In particular, they previously promised that the price of bitcoin would reach USD 100,000 by the end of 2024.
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